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The string of missteps, both mental and policy related, have finally caught up with China’s top securities regulator, Xiao Gang, who announced he will be relinquishing his role as the Head of the China Securities Regulatory Commission (CSRC), following several months of market convulsions in the country.

The worst kept secret across financial markets since last summer has been the rampant volatility afflicting China’s equity markets, characterized by seismic swings in the Shanghai index and the country’s hastily conceived measures to abate the selling.

Proponents for a more stable financial regime were given welcome news Friday, after Xiao Gang’s announced departure, ... (read more)